Karachi: Landmark Spinning Industries Limited has announced the successful court sanction of its planned amalgamation with Liven Pharmaceuticals Pvt. Limited, marking a significant step in their business integration strategy. The merger, first proposed in April 2022 under the Companies Act of 2017, received formal approval from the Honorable High Court of Sindh at Karachi on September 2, 2024.

The merger between Landmark Spinning Industries and Liven Pharmaceuticals is structured as an amalgamation of the entire business and undertakings of Liven Pharmaceuticals into Landmark Spinning Industries. This strategic move aims to consolidate their operations and harness synergies to enhance overall business efficiency and market reach. According to information available from the Pakistan Stock Exchange (PSX), this development follows a previous update issued on September 2, 2024, concerning the ongoing proceedings of the merger under sections ranging from 279 to 283 and section 285 of the Companies Act, 2017.

In addition to the court’s decision, Landmark Spinning Industries has distributed a certified copy of the judgment alongside the scheme of arrangement to relevant stakeholders for records and necessary action. The company has also communicated this update to the TRE Certificate Holders and Raiders of the Exchange, ensuring compliance and transparency in their disclosure obligations.

This merger is anticipated to create a robust platform for growth and operational excellence, leveraging the combined strengths of both companies in the pharmaceutical and textile sectors.